Solid financial results for Coronation Fund Managers as assets under management rise

CORONATION Fund Managers, the independent majority black-owned asset management company, lifted its interim dividend by 8.1% to 200 cents a share for the six months to March 31 over the same time last year after 92% of its investment funds outperformed their benchmarks since inception.

- EDWARD WEST

Revenue increased by 8% to R2.04 billion. Total assets under management (AUM) increased marginally to R676bn (September 30, 2024: R667bn), while average AUM increased by 9% to R677bn (March 31, 2024: R619bn).

“We have delivered solid interim financial results under challenging circumstances. Our clients continue to benefit from our globally integrated research capability, active asset allocation and stock picking, as well as excellent client service,” chairperson Alexandra Watson and CEO Anton Pillay commented in the results statement.

“Long-term outperformance in our South African portfolios remains outstanding at 98%, and we are optimistic about the strong recent recovery in our global portfolios,” they said.